BTC-e: 55% of funds controlled by exchange, to issue BTE tokens

posted 14 days ago
BTC-e team released another update on Bitcointalk.org forum regarding current situation.

The latest announcement state:

"1. During last 14 days we've been fighting for your (customers) funds. We've managed to gain control of 55% of the funds, but remaining 45% are arrested funds (mostly in fiat).

2. The way out of current situation is:
2.1. It's impossible to work under the current BTC-e brand.

2.2. We are in talks with a group of investors (an investment company) about acquiring our services and repaying debts to customers.

2.3. The balances will be recalculated after we will sell our exchange to an investment company.

2.4. The balances will be recalculated (taking into account the available 55% of funds) in such way:

2.4.1. All fiat liabilities (USD, EUR, RUR) will be transferred to BTE tokens (1 BTE = 1 USD). We will probably launch an ICO on BTE tokens to close all liabilities faster.

2.4.2. If you have your balance in digital currency, then 45% of the balance will be written off and you will be credited with 45% of BTE (1 BTE = 1 USD).

2.4.3. If you have your balance in BTE, then you will be credited with 45% in digital currency (the amount will be divided into 7 different positions equally BTC, LTC, NMC, NVC, PPC, ETH, DSH), and 45% of your BTE will be written off.

2.4.4. After all recalculations, all users will be able to withdraw 55% of their funds.

2.5. The investment company works in compliance with KYC and AML, so all users will need to go trough verification process.

2.6. Tentative launch period - end of August.

3. All debt obligations will be closed primarily from further operating income, as well as from the funds that we plan to receive from those, who illegally arrested them."
Tags: news, bitcoin